![]() Loan Programs & Other Mortgage Calculators For example - do you need or want extra money each month for: Make sure you’re giving yourself some cushion room for lifestyle essentials. It’s smart not to over-buy and discover that you have no money for anything else once you move in. But you also need to consider other factors that are important to you. It’s easy to fall in love with a beautiful home at the highest mortgage amount you can get. Once you have a good idea of the maximum loan you could afford - take a step back. Press calculate to see what you might be able to afford. The amount of money you have to put down determines what loan options you have available. Add up mortgage or home equity loans (that won’t be paid off), auto loans, student loans, personal loans, and minimum credit card payments. Include the total amount for recurring debts. Include W2, social security, retirement, self-employment, child and spousal support, and any other ongoing income that will continue for at least three years 2. List your yearly income before taxes from all sources. There are four boxes to fill out on our affordability calculator. No matter what your goals are - it’s good to look at all your options. While other shoppers want to take advantage of low rates and purchase their dream home, they’re willing to use their maximum buying power. ![]() Although they may qualify for a larger home loan, some borrowers find that they’d prefer to be conservative and underbuy. If you’ve just started thinking about buying a home, your number one question is most likely how much you can afford. If you’d like a more precise estimate of interest rate, payment, and more - based on your situation, you can use our “Get my Rate” tool by supplying some basic financial data. This is a great way to quickly understand an approximate estimate of payments. Take a few minutes to discover the minimum and maximum loan amount you might be able to qualify for and what your monthly payment could be. With our mortgage affordability calculator, it's quick and easy to see how much house you can afford.
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